Global Entertainment Holdings Signs Binding Agreement with PYX Wallets in First Transaction Since Court-Supervised Restoration

After a custodianship that cleared legacy liabilities and restored the Company to good standing, GBHL plans to combine with PYX Wallets, a developer of titanium smart wallets that combine physical card security, fingerprint access, connected app controls and offline crypto protection

LAS VEGAS, Oct. 21, 2026 (GLOBE NEWSWIRE) -- Global Entertainment Holdings, Inc. (OTC: GBHL) (“GBHL” or the “Company”) today announced that on October 16, 2026, it signed a binding letter of intent (the “Agreement”) with PYX Wallets Inc. (“PYX”). Under the Agreement, PYX would acquire voting control of GBHL and contribute its business to the Company. The parties expect to sign definitive agreements and complete the change of control on or before October 30, 2026.

About the PYX Platform

Wallets protect what people carry every day, but they have changed little in decades. PYX is developing titanium smart wallets that combine physical card protection with fingerprint access and connected controls through mobile and desktop apps. PyX Core is designed to protect everyday cards, with GPS tracking and RFID/NFC shielding. PyX Vault combines Core's connected security features with a hardware crypto wallet, bringing physical cards and crypto cold storage together in one device. Planned features include the ability to:

• Unlock the wallet using the biometric fingerprint sensor located on the side or through the PYX app, and manage multiple saved fingerprints through the app.
• Locate the wallet with built-in GPS, activate Lost Mode through the PYX app if the wallet is lost or goes missing, and check battery level in the app. Built-in RFID/NFC shielding helps protect cards from unauthorized scans.
• Store crypto private keys offline with PyX Vault and review the amount and recipient on its integrated display before approving transactions on the wallet. Planned Vault app features include buying, sending and receiving crypto.
  

PyX Core and PyX Vault are currently in development, and their final design, features and functionality may change before launch. For more information, visit www.pyxwallets.com.

What Comes Next

When the change of control closes, PYX would become the control person of GBHL and appoint the Company’s officers and directors.

The parties have agreed to use their best efforts to complete audited financial statements for the combined company and file a registration statement with the SEC within 90 days after the change of control. Once the registration statement is effective, the Company may raise additional capital to support the launch of PYX’s products.

“People carry their cards every day, while more of their financial lives are becoming digital. We believe their wallet should evolve with them,” said Ryan Contardi, Chief Executive Officer of PYX Wallets. “We are building PYX around that idea, combining a premium look and feel with technology that puts control of the wallet in its owner's hands. Whether people want smarter protection for everyday cards or the option to bring physical cards and digital assets together, PYX is designed to make their wallet work on their terms.”

“When the court appointed a custodian, GBHL had been abandoned by its former management and had no operations,” said Richard C. Hawkins, Chief Executive Officer of GBHL. “We rebuilt it with the support from the court through the custodianship process and with full disclosure so shareholders would have a clean company to build on. PYX brings a new business and product line to that foundation. Now the work is to hit each milestone, starting with the audit and filing with the SEC.”

Court Custodianship

The Agreement is the first strategic transaction for GBHL since its restoration. The Company’s former management abandoned it in 2023, leaving it with no operations.

In May 2025, the Eighth Judicial District Court of Nevada appointed a custodian. The custodian reinstated the Company with the Nevada Secretary of State, appointed interim officers and directors, and ran a court-supervised creditor-notice process. In March 2026, the Court entered an order barring unasserted claims. On September 28, 2026, stockholders ratified the custodian’s actions, elected new management and approved the cancellation of 3,702,000,000 shares issued under a rescinded 2023 share exchange. The custodian has since filed a motion asking the Court to discharge the custodianship and enter a final order, which is pending.

The cleanup is reflected on the balance sheet. Total reported liabilities fell from approximately $856,000 at December 31, 2025 to approximately $384,000 at September 30, 2026, after the Company recognized a gain of approximately $494,000 on liabilities barred by the court order.

About PYX Wallets

PYX Wallets Inc. is a Delaware corporation developing titanium smart wallets that combine fingerprint access, physical card protection and connected app controls. PyX Core is designed for everyday card security. PyX Vault combines Core's connected security features with a hardware crypto wallet, keeping private keys offline and providing on-device transaction review and approval. For more information, visit www.pyxwallets.com.

About Global Entertainment Holdings, Inc.

Global Entertainment Holdings, Inc. is a Nevada corporation quoted on OTC Markets under the symbol “GBHL.” Following a court-supervised custodianship, the Company is pursuing a strategic transaction to establish new operations.

Investor Contact
info@gbhlinc.com | +1 480-788-7420

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding the proposed change of control under the letter of intent, the execution of definitive agreements, the transfer of voting and board control, PYX vending its business into the Company, the discharge of the custodianship, financing plans, reporting status, the completion of audited financial statements and the filing of a registration statement, and the development, features and launch of PYX’s products. Forward-looking statements can be identified by words such as “would,” “intends,” “contemplates,” “anticipates,” “plans,” “expects” and similar expressions.

These statements are based on current expectations and are subject to significant risks and uncertainties, including: that the letter of intent may be terminated under its terms, including if definitive agreements are not executed within 30 days, with certain obligations surviving; that definitive agreements may not be executed or the change of control may not be completed; that the Court may not enter a final order discharging the custodianship when expected or at all; that the required audit and registration statement may not be completed within the contemplated time frame or at all; that PYX’s products are in development and may not be completed, manufactured or launched on the expected timeline, at the expected cost or at all, and that their final design and features may change; that PYX’s products may not achieve market acceptance; that PYX may face competition from established wallet and hardware crypto-wallet makers; that the digital-asset features of PYX’s products may be affected by evolving laws and regulations; that additional funding may not be available on acceptable terms or at all; that securities remain subject to applicable former-shell-company resale restrictions under Rule 144(i); and that existing indebtedness and future financing may substantially dilute common stockholders. The super-voting preferred stock would concentrate voting control in PYX even if PYX’s common equity ownership is diluted.

The safe harbor for forward-looking statements provided by Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 is not available to the Company. The Company undertakes no obligation to update any forward-looking statement except as required by law.

This press release is for informational purposes only. It does not constitute an offer to sell or the solicitation of an offer to buy any security, and there shall be no sale of any security in any jurisdiction in which such offer, solicitation or sale would be unlawful. Any offering of securities will be made only in accordance with applicable law and, where applicable, pursuant to an effective registration statement or qualified offering statement and the delivery of a prospectus or offering circular.

Source: Global Entertainment Holdings, Inc.